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for the economy is finally good news for wall street. stocks rose sharply because of a super strong jobs report. american businesses added 2,300 jobs in november, much more than expected, and the nation's unemployment rate fell to 7% even, that's a five-year low. the rally was broad base with all ten sectors of the s&p 500 index on the plus side. today's gains come after five straight losing sessions on fears that a stronger economy would be the cat list for the federal reserve to cut back on the stimulus plan. now it looks like investors and traders believe a growing economy is good news. so here is a look at today's closing numbers. the dow shot up almost 200 points back above the 16,000 level. the nasdaq jumped about 30 and s&p rose 20 points returning to the 1800 mark again. >>> so where are all those jobs, and what do the gains mean for the economy? hampton pearson takes a look. >> just in time for the holidays, tanger outlets opened this 100 million dollar complex with 80 high-end retailers outside washington d.c. in light of today's surprisingly strong jobs report, opening a new outlet m
we are in the middle because you what the economy to improve but not want to the fed to stop totally but yet you want to show it is getting better because sees earnings have to grow so the goldilocks scenario is the underlying growth would pick up and yet pick up later but then not have a crash when e rates go higher. dennis: you say the stocks go down with good news because we are scared they will tie ended? but today they went up triple digits is there such an attitude to where i think the economy will go okay? >> fortunately a part of that is the investors are confident coming back to the stock market. it will go up even just people thinking it is up. >> what did you think of the report today? >> solid but not spectacular. to reduce thousand jobs is a good bumper but every other indicator was positive. most importantly we saw improvement of the for sandage other americans in the workforce. i was happy with this report but we should not be celebratory i remember in the '80s and '90s we had five budgets thousand jobs in one month but it there is no such styles as to get the jobs cre
to additional jobs as more successful economy for everyone. by the way, we can look back in history and see in 1968, for example, the minimum wage in real dollar terms or in fixed dollars terms would be $9.44 now. and the unemployment is less than half of what it is today. the notion that minimum wage destroys jobs is disproved. and when you think about it, the common sense that says people at the lower end of the income spectrum are going to spend the money that they make, that will create jobs and will be good for everyone. >> low wage workers as customers. that's where i want to come back. we'll take a short break with our guests and we'll be back. this is inside story. >> fault lines investigates... fracking >> shale gas development could actually double the economic growth rates in the province. >> this is our land for thousands of years... >> do you drink money? you must have a lot of money to drink... >> as tensions rise, and protests turn violent, where will the debate lead? >> the situation was no longer peaceful or safe... >> they were bashing my head with their boots... they had
front. more companies are hiring and the economy shows signs of a rebound. >> hello, welcome to al jazeera america. i'm morgan radford, live in new york city. >> an american war veteran detained in north korea is on his way back to the united states. merrill newman departed beijing airport about 15 minutes ago, headed for his home in san francisco. he'd been held in north korea since late october. officials said they released newman on humanitarian grounds and for apologising for crimes committed during the korean war. he spoke to reporters before leaving beijing. >> i'm glad to be coming home. >> melissa chan has more. >> great news that merrill newman has been freed. you can well imagine how distraught his family has been. he's missed thanksgiving, but will be home in time for the holidays. we hear that merrill newman was part of a special unit called the white tigers. military intelligence stole secrets - we didn't know about the group until the 1990s. so from the north korean perspective they consider merrill newman, even though he's advanced in age, a serious enemy. from the n
. in washington, the week's other been on the economy, good news on the jobs front today, a healthcare website that and theinally working struggles that continue away capital.nation's starting with the jobs report, are we seeing the long-awaited recovery everyone is talking about or what, david? >> i think the economy is moving in the right direction, moving slowly but in the right direction. we've had two months with over 200,000 jobs added, the unemployment rate is as low as it's been in the last five years month wasring this across the economy -- manufacturing, construction, it's aate and local so good sign but it's important to remember there's still a lot of people out of work. than one third of the unemployed have been out of work for six months or more and hard time getting hired. gwen: that's one piece of today's news. week's newsof this is about the healthcare act. at the white house today, they are linking the good economic with the finally good news about the healthcare act. is there a connection between rebound in the economy and the healthcare act? >> the link is tha this law all
christiane amanpour and candy crowley. all at the same table. >>> the economy is climbing back. i'm christine romans. the economy is growing at the fastest pace since the beginning of 2012. driving growth? businesses. do they expect demand from consumers to surge and what happens if consumers are not buying? another critical sector to watch, housing. sales of new homes up 25% in october. the sharpest gain in 35 years. positive jobs numbers show the economy is healing. 203,000 jobs added in november. the u.s. on track now to create the most jobs since 2005. the jobless rate lowest in five years. stock market may have taken a breather, but it is a banner year for stocks. 25% of americans hold three quarters of all stocks. many americans are more concerned where the next meal is coming from than the 401(k). fast food workers striking against poverty wages. the economy, jobs, minimum wage. that is the president's agenda for the next three years. alex is the business director and chairman of the economic advisers. also with me is a former adviser to presidential candidate mitt romney.
it was added 203,000 jobs. so far the economy is up 2.1 million jobs and 2013 may be the best year for hiring sinc since 2005. the unemployment rate fell to 7%, and it's the lowest in five years. that's great news. number. i'm going to stand in front of it. focus on the number of jobs added every media. in this case it was 203,000. i do want you to pay attention to this number. 63%. the that's the labor force participation rate. that's above upward from october when that number had fallen to its lowest level in 45 years. that meant that people were falling out of the workforce because they couldn't find jobs or they had give up trying all together. this is the portion of peel available to work who are actually working. number suggestion that people are coming back to the workforce instead of leaving it. looking at how well job creation is keeping up with new workers who are entering the labor force. they're coming of age, graduating from school while providing opportunities for veteran workers who want to stay employed. this is not a trend as we see this happening consistently for months. eit
is the story? >> the idea is that it grows when the economy is bad and it contracts when the economy starts to improve. projections are that in the next five years it will go back at the 1996 levels to ensure its economy and the point is to boost wages. neil: one people out of seven people, isn't that bad? >> one person out of seven people is about $23,000 a yer getting for food stamps. >> i'm not sure it's one out of seven. but what i hear what melissa is saying. it's a bad economy. 65% of groceries and food stamps due to that. neil: we also relax the standards? >> yes, starting under george bush. as well as president obama. there were a requirements and tests and the like. but that is a recent development. while people are misleading others about when they say that there is not an explosion of food stamps, there's a higher growth rate. what they are saying is rescue the food stamp program for the truly poor. the. neil: we could go back and forth for who is really poor and who is not poor. but you could go beyond food stamps, now you are close to one out of three americans getting assistan
. making sense of the new jobs numbers. has the economy turned the corner when it comes to the economy. >>> we'll hear from president bill clinton. >>> motor city master pieces. the latest on possibly selling artwork opened by detroit. could it pull the city it of bankruptcy, and should it? >>> good morning, everyone. welcome to "weekends with alex wit witt". president obama surging congress to extend benefits for 1.3 million workers. they are set to expire just three days after christmas. >> if congress refuses to act it won't just hurt families already struggling. it will actually harm our economy. unemployment insurance is one of the most effective ways there is to boost our economy. when people have money to spend on basic necessities, that means more customers for our businesses and ultimately more jobs. >> the republicans are focusing on obama care. >> families who work hard and play by the rules deserve some basic choices, fairness and relief. that's why the house has passed legislation to delay the individual mandate for all americans and let you keep the plan you like. these p
-style enhancements for those not rich. >> but the bottom line is that when you have a slow economy like we had in the 70s, the rich very often get richer but the poor get poorer. that didn't happen during the reagan era, did it? >> no, it didn't. look, it's not just the obama administration's fault. it's the bush administration's fault. the cheap dollar policy creates financial bubbles. who can take advantage of financial bubble? the rich. the poor always have to sell out at the bottom. number one. number two, the regulatory creep that occurred under bush and has accelerated under obama has made it very difficult to expand in areas where you typically find high wage blue collar jobs, in transportation, energy extraction and so on. i hope rick will be pleased to hear that i'm not blaming this entirely on president obama. >> well, on the other hand, mike, president obama's solution to all this and they're saying it in europe, the imf is saying it, is to have this global wealth tax, to tax the rich more, to bring the rich down, that will help income disparity. what do you think of that plan? >> a
and a very favorable way for wall street despite the expectation that a growing economy will lead to the end of the federal reserve easing money policies. first to the economy, the november jobs report showed an unemployment rate of 7%. that is the lowest monthly unemployment rate since the december before president obama took office. the economy beating expectations , creating more than 200,000 jobs last month. with september and october payroll numbers also revised higher. the labor force participation rate ticked up for the first time in nearly five years. after hitting a 35 year low in october. and the total number of people out of work including the unemployed and the under employed dropped by more than a million people last month. those job gains and a broad range of industries, including higher paying sectors like manufacturing and construction, which added 27,000 new jobs alone last month. wall street today indicated investors may now be prepared to bid adios to quantitative easing despite lingering fears that the better reserve will quit its easing money policies in. the doubt -- do
in the world and compete in the world and also we're now in a global economy competing for skills. that we need to be making progress on the start rather than going behind. i think what also has people nervous is that this comes despite many years now of the united states being focused on this question no child left behind, other pieces of legislation. common core debate. state efforts to improve things. and we're not making progress. >> no noticeable improvement. >> rankings in education seem to have very little to do with the success of individuals in later life. much less the success of the economy. there's this false equation that countries with great educational systems are going to have innovative dynamic economies. is that true of japan? of course it's not. is that true of finland? it's not there either. their one champion corporation is nokia. it's good half as many people as belgium. that's what makes a lot of these comparisons ridiculous. >> we should ignore them? >> yes, because they basically tell you nothing except to invest a lot of money in education and that's what we do here in
, but no one predicted the markets would react this week. there was worries that an improving economy would lead the fed to taper early, burr the stock market rallies big and the bond market barely moves. cyclical sectors were strong and even the interest rate sensitive groups had a good day. we closed at the highs. but what about the taper fears? remember bond yields had moved up from 2.5% at the end of october to about 2.9% today. most traders haven't changed their position, that tapering is unlikely to start before january at the earliest and it will be gentle when it starts. finally, janet yellen will believe to enforce that tapering is not tapering, like changing the unemployment threshold they have been talking about. larry, back to you. >>> all right, many thanks to bob pisani. now, it looks like more and more like obama care is failing so badly that a bailout is already in the works for the nation's biggest health insurance companies. and that's because of what many are calling the perfect storm. not enough young people enrolling, too many older and sicker people signing up, also th
in the economy a jump in construction and manufacturing jobs helped bring the unemployment rate down to 5%. the economy gained 200,000 new positions last month. >>> in mexico startling new developments about a cargo of stolen radioactive material. they havthey have arrested two . they are being treated for raid radiation poisoning. poisoning. ♪ ♪ >>> as the word continues to mourn the loss of nelson mandela, stories are emerging of how america was crucial in the fight against racial segregation. consider this what was america's role in helping break the power of apartheid ove overseas the secretary for african a affairs will join us. >>> new york's mayor elects one of the biggest supporters to head the nypd. >>> a new wave of violence hit bebengazi. >> what would it be like to live on a floating ship in the middle of the ocean. >>> welcome to "consider this". we begin with the celebration of the life and legacy of nelson mandemandela. a ten-day mourning period began in south africa where mandela ercheddeendended the wave of ap. >>> mamandela's fellow lauret sd the sun will rise tomor
to the economy an-for-a change so many good news. the november's job's report shows the unemployment rate fell to an all time low. the u.s. economy gained moore jomorejobs than expected. and the gains are wide spread in low and high conditions. it's i something that is key to today's economic news. >> i always kind a reason to find i this report shea shairky. the unemployment rate is down and we have created 200,000 jobs every month but a quarter of the jobs were higher payin paying j6 an hour or more. that is what wei we are concernd about. 1:5 is still low paying. that is part 69 problem. >> of the problem. it's not gang busters and teabs noit'snot a raw numbers thing. sgenerally speaking the qawl quy of jobs is higher. >> at first glance it would appear it's a big deal, but is it? world gets ou obsessed with the unemployment rate. >> i couldn't care less. that number measures a group of people in a changing group of larkehearingerlarger people. i do don't care about that number. more than 150,000 joan because that is the number of more people that come into the work force every month than
the last minute hitches. some estimate it will boost world economy by 1 trillion-dollar and create more than 20 million jobs. we're looking at details in just a moment. but first we have reports from indonesia. >> reporter: it was an emotional moment after a dramatic four-day long meeting in ballet. the unexpected wa, and suddenlyt was possible. >> the countries of the wto has accepted a deal that will bring down trade barriers worldwide. it could bring a broader agreement in the years to come. also custom procedures will be more transparent, which should make trade cheaper and developing countries like indonesia are allowed to protect their farmers and poor people with basic food subsidies. india was blamed for not backing down on its food security plan. many in the united states were worried it would effect world market prices. >> i view as a victory for the farmers for the entire developing countries, and there is also a coalition of developing countries that entry waindiawas able to put togetherh its partners demonstrated solidarity and achieve this. >> not every is happy with the d
to end the war in afghanistan. the job market is getting better. our economy is improveth. we have double our production of clean energy, doubled our production of traditional energy sources. we are on the brink of being energy independent as a country our size to be. we have the best researchers, scientists on earth, and the most innovative companies on earth. we're still the envy of the world. i continue to have great confidence in our capacity. this city washington is grid locked and spends too much time worried about the next election and not enough worried about the next generation. what jack kennedy understood as well. that's the american people. we go through these periods where our politics gets all balanced up. the truth is sometimes we're nostalgic about the past. >> i am. >> i know you are. if over and over again they see they are not addressing the core problems we have, eventually they will put in place folks who are serious about getting the work done. >> let's talk about the problem with the legislative branch. the nature of america is an aisle down the center. those aisles
and the economy. the data now raising concerns over what can still be accomplished in his next few years as president. joining us now is our political panel angela mcgrewen, fox knew political analyst, and ronow molono. the president used to enjoy euphoric ratings. now his approval rating is abysmal on all kinds of issues. so ways happening overall? why is this happening? what kind of take do you look at this -- what prism do you look at this through, angela? >> the bottom line is this. are you better off today than you were four years ago? most americans that elected this president yet again, now they're having buyers remorse, because most americans are not better off. if you look at the unemployment rate at 7% but for the black community, last check, it was 13%. the hispanic community has not lowered that much and for women and young adults, if you have a college degree, kelly, most people don't have a job today, so people are looking at this situation and though the president is a great orator, a great politician, motivational speeches do not make a more prosperous america. >> when yo
's policies that they're killing the economy. the economy isn't dying at all. in fact, there are more and more signs it's thriving under the president's leadership. according to the new monthly jobs report out today, the economy added more than 200,000 jobs in november. and the unemployment rate is down to 7%, lowest level in five years. the president's enemies responded to the news the only way they know how by attacking the affordable care act. well, here's only a sampling of their reactions to the good jobs news. keep in mind, these are statements supposedly about the jobs report. speaker boehner said, we need to protect all americans from the fundamentally flawed health care bill. eric cantor had this to say. quote, stop obama care from reducing hours and eliminating jobs. peter roscom of illinois said we continue to see the lost coverage, cost spikes on the strain of the president's health care law. then there's this sugar plum from tom price of georgia who dug up the old refrain that millions of americans are going to see their policies canceled. it seems no matter what the news, it's li
in lieu of to witness the clean up air energy economy we know this could trigger a market transformation for the evolution we're witnessing but in order to unleash the potential we must provide the cat lift for a are you unnecessarily product and services. that catalyst as i mentioned it green finance sf. we've seen other parts of the state here in california that have adapted pace programs like in riverside county and have each year the positive impacts. we know the stories of individual that have benefited from the pace programs. we know those upgrades can save money for crucial home improvement projects but illuminate bills. in the future it was important for mayor ed lee and i to make sure this finance had a strong workforce component. we had meetings with our partners in labor to start the conversations and we know that training and employees for jobs in the many energy economy is key to keeping them employed but helping them find meaningful careers and building their families within your borders. we have clean energy we want our workers to benefit. we're going to continue to work f
point for the economy. 203,000 jobs created last month. but as low-wage workers take to the streets it looking more like one america with two economies. i'm christine romans. this is "your money." america on track to create nearby 2.3 million jobs this year. but the quality of those jobs could spark the beginning of a 21st century labor movement. fast food workers protesting in 100 cities across the country this week. they're calling for a living wage, $15 an hour. they are not alone in their call for better pay. >> we know there are airport workers and fast food workers and nurse assistants and retail salespeople who work their tails off and are still living at or barely above poverty. >> the president has called for raising the minimum wage to $9 an hour. he also supports a bill in congress to raise it to $10.10 but fast foods workers say $15 an hour the living wage they need. the question, a living wage, who pies? could raising the minimum wage ultimately hurt the very worker rs it's meant to help? it's all in the eye of the beholder. first, look through the low wage workers eyes
of today's opinion pages of "the wall street journal:." again, your thoughts on the economy, especially in light of these new numbers, with the federal unemployment rate at seven percent. in.ere is how you can call we divided the lines differently. if you are under 30 -- it is discussions about the economy that takeover the papers today, especially in light of these new numbers. here is the editorial page of "the new york times." they have a different take -- we start this morning in jacksonville florida. angel is up. good morning, what do you think about the economy in light of these current numbers? good morning. first of all, thank you so much for taking my call. go ahead, you're on. caller: there is still a selection process that is very difficult for many people. thethe reason is simple, young people are being selected -- the selection very picky.ery, degrees and i can't find a job in jacksonville, florida. some cities are picking up quickly, some aren't. keep are you going to looking for work or have you given up? caller: i will keep looking. fairs, i apply for work every day. i s
the jobs front about a divide in the u.s. economy: the labor market seems to be getting stronger once again. yet for many on the lower end of the income ladder, the big gap in wages is sparking a budding movement. we begin with economics correspondent paul solman on the unemployment rate's drop to a five-year low, even as many jobless americans face more difficult times ahead. the story is part of paul's coverage on making sense of financial news. >> reporter: the latest snapshot of the nation's jobs situation-- showing 203,000 positions added in november, and a jobless rate of 7% was even rosier than anticipated. we asked northeastern university economist barry bluestone what he made of the numbers. >> on balance this was a good report today. over 200,000 people are back to work. we've brought the unemployment rate down from 7.3% to 7%. that's all good news. of course many of those were federal employees coming back to work after furlough, but we had some good news about manufacturing employment, construction employment, pretty much across the board. so in general this is good news plus o
emergency jobless benefits. this, after friday's strong jobs report showing the economy added 203,000 jobs last month, sending the unemployment rate down to a five-year low of 7%. rick tyler, senior vice president of the strategy group and former spokesman for former house speaker newt gingrich. ellen ratner, talk radio news service bureau chief and fox news contributor. here now to talk about this. good to see both of you. >> thank you. >> good to be here. >> of course, more people working is always good news. do you think we need more placement, though, in jobs that are paying more than minimal wage or are more stable than part-time jobs? if so, how do we get there? >> we certainly do. part of the way we can get there is by developing more infrastructure projects because our infrastructure is crumbling in some places. certainly know the bridges and roads are doing it. jim pinkerton talks about this project he's got going. there are ways we can get these higher-paying jobs. every time there are people who make more money, they put more money into the economy. so that also stimulates the e
. there is a structural change going on in our economy as we speak. joining me now to break it down, former chief economic adviser to president george w. bush and a hoover senior fellow. welcome to the show. you know, every time i see something new you know, amazon drones delivering a package, i see automated checkout at the cbs on the corner. i think that jobs have disappeared and are going to continue to disappear, and they are not coming back. am i wrong? >> you are not wrong. that is a correct observation, but it is n observation that is not unique to this particular time frame. you mentioned structural change, and there has been a structural change, and structural change has been occurring for a long time. if you go back to the 1950's, we have about 35 percent of our workforce is unionized, and manufacturing for the most part. and then if you look at the numbers, say in 2007 the number that just precedes a recession, we had about the same number of people, 14 million in manufacturing in the 50's, 14 million in manufacturing in 2007. but we were producing six times the number of goods in 2007 that we
the local economy a boost in the process. >> there are a lot of other satellite businesses that depend on us growing, too, so this project, you know, there were several hundred people that, you know, went to work bringing the electrical, the construction, all those other pieces here to support our efforts to satisfy our customers. >> reporter: among those other businesses, barry swenson builders, busting out of the construction slump with more tech industry-fueled south bay real estate projects than they've seen in years. >> absolutely. and actually a little by concerned about what we're going to do come late spring. >> reporter: because? >> because we have so much volume at this point, and just want to make sure that we have the right people in the right places to make sure those jobs get done correctly. >> reporter: the busier they are in here, the busier they'll be out here. >> we think it hopefully will continue into the next couple years. >> reporter: gradually building up the local economy. now, the jobless rate for the entire country came in today at 7.0%. the lowest rate we've seen i
in germany the country's central bank has forecast even brighter days ahead for europe's biggest economy despite losing steam in the third quarter the bushes and has raised its projection german economy to grow as much as half a percent this year. in twenty fourteen it sees one point seven percent growth and that could rise to two percent in twenty fifty what is on president pointed to the country's low unemployment rates increased hiring and study. find out all the years went down on the markets returned to our reporter because i was. it stopped an optimistic outlook for the german economy from the united states is well positive data came in which shows that the recovery of the economy there is stronger than anticipated. contrary to the tenancy all week the market did not take this as an opportunity to be concerned about the potential he only on phasing out of the monetary stimulus by the center backs. nope the dax is up again and with it. the hopeful of the year end rally is back again which is the hope that stock prices hero will be rising with the end of the year. i am trying to say
, it will harm the economy. unemployment insurance is one of the most effective way there is to boost the economy. when more people spend money on basic necessities, it means more customers and more jobs. the evidence shows that unemployment does not stop people from trying to hard work -- stop work -- trying hard to find work. if we stopted that it now it will be a drag on the economy next year. another estimate thinks it can cost businesses to wondered 40,000 jobs. without the ability to feed their families or pay bills, many people currently looking looking forld stop good. extending unemployment insurance is not just the right thing to do for our families, it is the smart thing to do for our economy. it should not be a partisan issue. for decades, congress has offered to vote for relief for job seekers. now that economic lifeline is in jeopardy all because republicans in the congress, which is on track to be the most unproductive in history, has so far refused to extend it. in this holiday season, let's give our fellow americans were desperately looking for work the help they need to keep on
that the country's economy hide industry and trade body said it strikes across the country some two hundred million dollars. the road or vibration of the blue it to its bali people stop about and talk to some exponents of this button will give kisses aka summer that is a cynical twenty pieces is that the highest in the blood the executive board of the government to which he be the next ball is expected that this is all this the budget deficit reaching out to some discussion about this alarming. add to the commercial hub is like a civics with the outbreak of the epidemic. then the forty seven thousand visitors vaccination. the defendant's refusal of the budget documents to be in the end of the organization program of the country. after that the demented ropes activists of all the time i took that as the benefits of bad vaccinations and again it is a western plot to sterilize muslims. the director had about but found that the porto by respondents said yes please read the perspective of the strip had the energy and focus on in the wall the demise of south african leader nelson mandela on thursday. jac
to be able to compete in an economy. so the mayor and i have the honor of going to all the ribbon cuttings participate in the south of middle market. this is the first incubator space we're coming to which is an international collaborative workspace. i was speaking with some of the employees how many of us came to san francisco 13 years for the first dot come boom. many folks went from the colleges to the hot economy at that time. of course, we had the bust will cycle that followed and we're seeing something that's exiting the diversity of the economies and the businesses are incredible. this is excited about this step we're seeing on international collaboration this notice not just in san francisco but in asia. i'm sure you're aware it's been the mayors responsibility to collaborate to share ideas together. that's how innovative business and products are going to be created and brought together for our people. so i'm also here on behalf of the 11 members of the board of supervisors to welcome digital garage d g 717 to the south of market. i have an accomodation. i want to say one last thi
rating are not looking good either. >> it hurt the economy. >> economy is moving in the right and any sort of shutdown or shake, the uncertainty in washington is what is damaging the economy right now. off theey take budget table temporarily, what is as his domestic priorities? >> he has to did all of his attention into writing the health care ship. this is his legacy-defining item. numbers arent looking pretty good but that is in the front and. enrollment is a lot different than actually getting the 7 million people that they need signed up and having purchased health care. they are focusing big on colleges, on getting the word out to be able to get the young uninsured signed up to balance out that risk pool. >> i am not in that risk pool. if they are going punt on entitlements and taxes, which they're going to do, they will not do it next year either, are they? >> i am starting to believe that none of that can happen meaning structural changes to entitlements until we have another election or some kind of big economic shock that forces these lawmakers to come together. of these is a
>>> welcome to al jaze rest a.z. >>. >>> major news about the economy tonight. a jump in construction and manufacturing jobs helped bring the unemployment rate down to 7% it's the lowest in five years the economy gained more than 200,000 new positions last month. 20,000 more than expected. >> a wintery storm is bringing ice snow and freezing temperatures across the country. winter storm warnings are in effect for a large part of the united states i.. it's crippling air flights and leaving driving dangerous. >>> i will be back here at 11:00 eastern and 8:0:00:00 pacific entertainment. pacific -- time. you can get the latist news on-line at al jazeera.com. >>> on "america tonight" crime and p punishment. our justice system o effort to t a standard. >> when i is a plea deal no deal at all. >> going to trial is not a crime and your sentence should not reflect the fact that you went to trial. >>> and also tonight remebering mandela. the man that shaiferre shared t. >>> the exquisite taste. i had the privilege to cook mr. mande mandela's first meal f captivity. ♪ >>> googo
close friday, they ended what was a pretty big week for the u.s. economy. stocks high, unemployment low, and the economy growing better than anyone expected. zane asher is in new york with what it means and how it all happened. >> reporter: fredricka, it was a big week for the economy. car sales rose, new-home sales roared and the unemployment rate dropped to 7%, the lowest since 2008. and it fell for positive reasons, because people are finding work. earlier this year, the unemployment rate declined because a lot of people got discouraged, gave up looking for work and weren't counted, but the opposite seems to be happening. it's added more jobs since 2005 and the gains are not in low-wage sectors. a lot of hiring in health care, transportation, professional services like accountants and travel agents. wages are also up and americans are working more hours. the list goes on. the report pushed the dow up nearly 200 points friday. wall street is thinking the federal reserve will reduce the stimulus program soon. certainly a sign the economy is ready to stand on its own two feet. but remem
recession. but what kind of jobs is the economy creating? an ice storm causes havoc t middle of the country. manuel bojorquez is there. and allen pizzey on the years that made the man. >> for 18 of the 27 years he spent in prison, nelson mandela walked down this corridor everyday and at the end of that walk there was no freedom, there was this. >> reporter: with bob simon on the moment he was free. >> after 27 years, his head was high and his fist was clenched. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, the south african government announced plans today for a week of memorial services for nelson mandela, culminating with his funeral a week from sunday. president obama will lead a u.s. delegation, expected to include a number of former presidents, though it is not known which of the services he will attend. mourners continued to gather today at mandela's home in johannesburg where he died last night and at his former home in soweto. perhaps no one image summed up his legacy better than this. >> blacks and whites signed by side honor
the entire country. it will be good for our economy. >> but, as the unemployment rate is heading in the right direction, will this wage hike have jobs taking a hike? hi, everyone, this is "bulls and bears." let's get right to it. the bulls and bears. gary b. smith. tracy burns. john nas max ferris. along with bernard whitman. will pushing the minimum to the max push out jobs just as they're coming back? >> yes, absolutely, this is the wrong thing to do in an economy that's showing some signeds of recovery. remember, they're targeting the wrong people. this is a great union and democratic slogan to say, look at the ceo, how much he's making. you can't raise the minimum wage to $15 an hour? take mcdonald's nor example. they will tell you, they don't set the wages for the local franchises. these are your moms and pops. these are your neighbors out there. they can't afford -- they don't have huge margins to raise the wages to $15 an hour. remember, if you want to help poverty this isn't the way to do it. the earned income tax credit does it. take this out of politics. take this out of unions. rem
that the economy needs to keep going? >> it could be. don't forget the manufacturing survey was very strong. manufacturing is right now ash the surveys are coming back better than they were before. construction and manufacturing are adding about 45,000 jobs of the 200,000 count. that means it is a broad based increase in jobs. >> when you talk about manufacturing and construction, that broad-based incentive, that is going to translate, i would imagine, into the housing market as well, i would imagine. >> one of the keys to getting the unemployment rate down -- that is why the fed keeps pushing. they want the unemployment rate comeback. we lost construction jobs during the session. jobsyear we have created back. this is evidence that construction is going to add more and more. the jobs count will stay higher. >> chief financial economist joining. good to have you. looking for job? turn to thetime to tech industry. we will have that story when bottom line continues in just one moment. ♪ >> welcome back. let's show you how the equity markets finished the session for december 6, 2013. halting
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